Infrastructure India agrees $6m increase to its bridging loan facility

Infrastructure investment fund Infrastructure India has agreed to a $6m increase to its existing $34m unsecured bridging loan facility, it announced on Wednesday.

The AIM-traded firm said the enlargement of the bridging loan would provide it with additional capital whilst it continued to progress its ongoing financing discussions.

“Whilst negotiations have taken longer than originally anticipated, the company continues to be in advanced negotiations with a third party in relation to a potential financing and these discussions continue to progress,” the board said in its statement.

“The new funding would enable the company to repay the bridging loan as well as provide additional working capital and construction capital to Distribution Logistics Infrastructure, a key subsidiary of the company, and provide for the group's general working capital needs.”